Housing -- in particular its
location -- is the
primary mechanism for accessing
opportunity in our
society. Housing location determines the quality of
schools that children attend, the quality of public
services received, access to employment and
transportation, exposure to health risks, access to
health care, and more. For those living in high
poverty neighborhoods, these factors can
significantly inhibit life outcomes
I].
Homeownership
is proven to build wealth, strengthen communities,
and promote both educational and employment
achievement in areas where affordable housing
opportunities are available.
Since 1992, Housing
Opportunities of Northern Kentucky has witnessed
firsthand the lasting impact that homeownership can
make on individuals, families, and communities,
proving that making affordable housing available
does more than just put a roof over someone’s head,
it changes lives, strengthens neighborhoods and
builds hope, one home and one family at a time.
For more information
on the need for Housing Opportunities on Northern
Kentucky, downloadResearch or Common Sense, Honk Works,
written by our Director, Joseph Gallenstein and
featured in our Summer 2006 newsletter.
Affordable
housing affects a broad range of working
families — starting police officers and
teachers, health care workers, retail
workers, service industry workers and many
others who serve the community.
According to
current federal guidelines, the cost of a
family's housing should amount to less than
30 percent of household income. (HUD, 2006).
But for many urban Northern Kentuckians,
spending 30% or more of their incomes on
shelter is the rule. (US Census, 2000).
A low income
renter will pay more for housing over a
lifetime than a middle income homeowner… and
never build equity. The median net worth of
a renter was $4,800 compared to $171,700 for
homeowners in 2001. (National Association of
Realtors, 2006)
The gap
between the number of affordable housingunits and the number of people needing
them is growing and has created a housing
crisis for the working low-income family.
Housing cost
has risen, putting homeownership
opportunities out of reach for many low
income families.
Yet
homeownership is positively correlated to
social stability, educational attainment,
civic participation, better health, positive
child outcomes, lower crime rates (National
Association of Realtors, 2006)
Housing -- in particular its
location -- is the
primary mechanism for accessing
opportunity in our
society. Housing location determines the quality of
schools that children attend, the quality of public
services received, access to employment and
transportation, exposure to health risks, access to
health care, and more. For those living in high
poverty neighborhoods, these factors can
significantly inhibit life outcomes
Homeownership
is proven to build wealth, strengthen communities,
and promote both educational and employment
achievement in areas where affordable housing
opportunities are available.
